Key Market Levels And Trading Through A Slow Summer Week

Welcome back everyone! I am going to help you all through the lunch hour! I am going to get a quick video to you while I can!

We are facing a summer doldrums in the moment. It is a short term phenomenon. It is not all summer long. We have some short term consolidations and support below us. We are holding that very well! We have higher highs in prices and lower highs in technical indicators. What does all of this mean?

It means that we are in a key consolidation area. I am watching for a break down below the lows set on Friday on many of the instruments. Otherwise I want to break out just above today’s highs for key market support and resistance.

We have mom and dad fighting today. The NASDAQ daily chart is up. You can see that in the back drop. The hourly chart was actually down today. That causes a phenomenon with a lot of whipsaws back and forth.

You could end up with a quick push out. The rest of it ends up just being chop. That is part of what you are going to see as well. The key is to remain vigilant and look for the key break out opportunities.

The markets are caught between a rock and a hard place. I want to break down below Friday’s lows or above today’s highs before going and looking for meaningful trading opportunities in these doldrums. I hope you al l have a great afternoon!

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